Discharged from Bankruptcy in BC? Apply for a Bankruptcy Loan in 5 Minutes or Less!

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Bankruptcy Loans in BC

Improving your credit score after bankruptcy is a necessity, as borrowing right after being discharged is nearly impossible.

When your credit score is the fiscal equivalent of the Hindenburg, there aren’t many ways to rebuild it. Banks don’t lend to applicants with poor credit, and most personal lenders will offer loans for large sums of money – something you’re currently missing!

Thankfully, Magical Credit offers flexible bankruptcy loans in BC, laying the foundation for you to start rebuilding your credit!

Need a loan, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our personal loan calculator!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

Why You Might Need a Bankruptcy Loan in BC

  • Financing a car – Commuting from Kelowna to Kamloops isn’t meant for a city bus. But getting a car after bankruptcy is ‘exhausting’ thanks to your poor credit score. Luckily, our loans improve credit score after bankruptcy, so your pipe dreams can become reality!
  • You want to buy a house – If you told a real estate agent you were buying a house after bankruptcy, they’d look at you cock-eyed. But, with Magical Credit’s personal loans in BC, you can improve your credit score and successfully apply for a mortgage after bankruptcy!
  • A second chance – Borrowing after bankruptcy is demoralizing. Financial institutions are unforgiving and won’t provide loans or credit cards no matter how bad you need them. Conversely, Magical Credit offers bankruptcy loans in BC, and the second chance you deserve.
  • Better employment options – Employers often run credit checks on job applicants and air on the side of caution when it comes to those with bad credit, as it shows unreliability. Our bad credit loans in BC can help improve your credit after bankruptcy, and secure the job you’ve been eyeing.

BC Bankruptcy Loan FAQs

Isn’t it unwise to keep taking out money after being discharged from bankruptcy?

If you take out a loan and pay it back very quickly, it’ll improves your credit score. A good credit score will better your loan rates in the future.

Just be careful: spamming loan applications and missed payments can further damage your credit score.

I was discharged from bankruptcy but I’m unsure on how to increase credit score. Can Magical Credit provide assistance?

As high-risk lenders, we offer loans when other financial institutions won’t. Since credit score reflects reliability in loan repayment, we advise you to pay back loans in a timely manner. When you pay our loans off, you’ll show financial institutions creditworthiness.

Am I still eligible for a bad credit loan in BC if I’m still under bankruptcy?

No. We won’t loan to anyone who is currently bankrupt. However, BC residents who’ve been discharged from bankruptcy are eligible for our bad credit loans in BC.

Do bankruptcy loans come with higher interest rates?

No. We keep our interest rate consistent at 3.9% monthly for all of our loans.

Can I still be eligible for a bankruptcy loan after defaulting on a previous loan?

No—  defaulting on previous loans makes you ineligible for a bankruptcy loan. We have a zero-tolerance policy when it comes to previously unpaid loans.

What’s the most I can borrow with a bankruptcy loan in BC?

Our bankruptcy loans in British Columbia range from $500- $10,000.


Need an emergency loan, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our short-term, personal loan calculator!

Our loans are considered short-term loans and have up to a 12-24 month term with an interest rate of 3.9% per month.
Loan Example
Term
1 Year
APR
56.50%
Amount
$2,000.00
Fees
$194.00
Interest Rate (46.8%)
$936.00
Total Cost of Borrowing
$1,130.00
Total Due End of Term
$3,130.00
NOTE: You can pay off your loan at any time with no penalty.
You will only pay interest up to the date you borrow it.
Terms and Conditions: (APR 23% min - 59.7% max) Loan amortization is between 12-24 months. Loan must be paid in full by the end of term, no extensions or exceptions, no automatic renewals. Failure to pay your debt on time with impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureau.